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Portfolio check: Investors dump this bank stock amid Pahalgam terror attack
J&K Bank shares declined 8.6 per cent on the BSE in the intraday trade on Wednesday, April 23, and hit a low of ₹103.41 per share. Around 0.70 million shares had changed hands on the stock counter on the stock exchange till 10:30 AM, as against a two-week average volume of 0.52 million shares. Together with the volume on the National Stock Exchange (NSE), 16.10 million shares have changed hands on the J&K Bank counter.
Pahalgam Terror Attack: Why are J&K Bank shares falling?
J&K Bank shares came under selling pressure on Wednesday after terrorists opened fire at tourists at Pahalgam in Kashmir, in one of the deadliest terror attacks in the valley since the Pulwama Attack in 2019, on Tuesday afternoon. At least 26 people have been killed and several were left injured. ALSO READ |
The attack has stoked fears of unrest in the region as searches by the Indian security forces are underway. Besides, the Indian Army killed two terrorists at Sarjeevan, in the Uri Nala region of Jammu and Kashmir's Baramulla district, on Wednesday, foiling their infiltration attempt. "J&K Bank shares saw a knee-jerk reaction on the downside, following the news of a terror attack in Pahalgam. The evolving situation in the region will drive the senitment in the stock over the coming days. The stock may recover with some gap if the situation does not deteriorate further," said Deepak Jasani, a stock market veteran.
Meanwhile, Prime Minister Narendra Modi has "strongly condemned" the terror attack in Pahalgam, Jammu and Kashmir. He further vowed that those behind the "heinous" act will be brought to justice.
"They will not be spared! Their evil agenda will never succeed. Our resolve to fight terrorism is unshakable and it will get even stronger," he posted on social media platform 'X'.
PM Modi will has also returned to India, cutting short his trip to Saudi Arabia, and is scheduled to hold a CCS (Cabinet Committee on Security) meeting later today.
J&K Bank latest news
The Pahalgam terror attack cut J&K Bank shares' five-day rally. Between April 11 and April 22, J&K Bank shares surged 24.22 per cent on the BSE as against a 5.9-per cent rise in the Sensex index. J&K Bank's market capitalisation has decreased to ₹11,454 crore.
The stock hit a 52-week high of ₹147 per share on May 6, 2024, and a 52-week low of ₹82 per share on April 7, 2025.
In the March 2025 quarter, Jammu Kashmir Bank recorded a 10.61 per cent year-on-year increase in its Total Business, at ₹2,52,779.14 crore. J&K Bank's total deposits, meanwhile, rose 10.24 per cent Y-o-Y to ₹1.48 trillion in Q4FY25.
The bank's gross advances were up 10.32 per cent Y-o-Y to ₹1.06 trillion, and CASA deposits increased 2.6 per cent on year to ₹69,843.5 crore.
About J&K Bank
Jammu and Kashmir Bank (J&K Bank), a Scheduled Commercial Bank, is headquartered at Srinagar. The bank provides financial services in the Union Territories of Jammu & Kashmir and Ladakh, and is designated by Reserve Bank of India (RBI) as its exclusive agent for carrying out banking business for the Government of Jammu & Kashmir and Ladakh.
The bank offers retail credit products, including home, personal loans, education loan, agriculture, trade credit and consumer lending, a number of unique financial products.
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